New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-05-28
FRIDAY, MAY PIP. M.

FRIDAY, Nay PIP. NJ
The statement Of the New-Yor Lake Erie and Western
Railroad Company Of Its business for tue month April
shows that the extraordinary expenditures which are
charged to operating expenses to make good the false
economy OF previous administrations. still a drag
upon its net earnings The increase In gross earnings
April 1886 Sl26.766; but an Increase in tho
amount charged operating 45l reduces
the gain in net earnings to Sal 3i5 The operating
penses Of last month 100000 greater than the
sum which charged to that for the month Of
April 1851 but Notwithstanding that the earnings
for last month S2390O0 greater than for the
month OF April 1855, for the expired
mouths ofthe companys fiscal year the earnings
l1G0570 greater than for the period of the
preceding and 80 100000 greater than for the
period Of tho year ended September 80, 1855 The
operating expenses for the last seven months were
S7o5S5s greater than for the period OF the pre-
ceding year, aud Sl30oo0o greater than for the
period OK the year preceding that The earnings for
the months show gain OF StJ9,7l2 on the period
Of the preceding year, and OF 81 100000 the period OK
the year ended september 80, 1885. These monthly
statements made with all taxes charged to operat
ing expenses while tho quarterly statements made to
the State Commissioners by their rules req lire portion
Of the be excluded from operating expenses aud
placed under the head OF rst charges The first charges
OF the year against earnings made up tho
monthly statements made. Will be less than
100000. Toward that sum- however, the income
from other sources contributes Sl,000, 900; that
the charges against earnings from operations OF
the road about S6,0O0,000 100000 per month
Upon this basis the business 0: the last months
turns surplus OF over $4,000. For the last dye
months OF last year the oompanys net earnings
amounted TO S2690.4si. Assuming that for the TO
mandeT OF this year tho net earnings Will be no greater
the period last year, while every monthfo
tho months has shown increase the net earn
ns the year will be sufficient topay dividend
OF per cent upon the preferred stock and leave a
= --g Mac .
for years printed below under railroad earn
inga
Treasury absorption OF money the keynote OF To-
days stock speculation The allegation that such
dangerous aud promised 70 be more dangerous was
the impulse witch lei free selling OF 81 Ocks for the
short account. And excepting here aad there some
realizing by moderate slers the OF the apparent
weakness OF the markete there little stock sold oay
that FOR the short accoanL The Yec York Tins
this morning printed long "rehash or Government re-
cep,s and partial expenditures This Is supplemented
By special to OF the Wall street agencies
stating that the total receipts Of the Government for
this month to date had been Ol7SO21, anl in tho
penditures. Sl0,sj3O63. II this statement told tie
whole story, wOull absorption OF money By
the Treasury since April 80 of Slo,3ODO0t. Now ths
facts are Treasury OF the United states At the
close business yesterday held in It's waits 50 yh13y
more net legal money over Oltstau hing cert hcates
(Which IN the hands OF banks the public are money!
were as follows;
Goid 77os)l
Lesaltcnders L6JS3lS
OF this sum OF gain at leas SlsO)0J0 IL represented
by additional purchases OF silver cciaed into standard
dollars 50 that without counting the redemption OF
a,le dollars during twenty-our days tho Treasury had
absorbed. OF legal money, from general circulation only
- 100000 tie period instead OF over Si00J0O0O as
the Washington special" wOuli to and p,obably
was intended 10 indicate. II IL Gror to state that
with the last call OF per the methods OF reincnS
the so-cal.ei Treasury surplus have come 70 an end
This has been frequently explained that 1t seems
superu0us repeat 1t. but 1t thai some OF our
eminent hnancers unable TO comprehend tne fact
that called per cents already retired AM cancelled
by the Treasury over O2oOO.0OO sul remain unpaid,
so far as Treasury Disbursements are concerned Ihai
sum OF money Is held by the Treasurer to retire
bank note circulation the security tor which WAS IN
covered by the maturity OF the called bonds Eacn week
The redemption OF these bank notes becomes greater and
this special und drawn 70: their retircmeut As tho
bank notes become more worn, the more rapidly viii
they be presented FOR payment AM each dollar or legal
money which comes Of tho Treasury in exchange for
dollar bank note for basis o. banking expansion is as
four against the bank note retired Farther tao
applications FOR issues OF bank notes Is much greater
than has generally been expected and probably VIII n-
crease business Of the country requires an enlarged
circulation Bat under the effects OF Prud.ciIDns
money with dulnes stock values to-day were easily &c
pressed by the sales OF phantom stocks 10 seems
ing Treasury Absorption u talk OF teht money In New
YORK viii money in London is drag at per cent
"A with previous declines OF tae same character as thos
today, the stock market closed steady and wi1hous
an indication Of leyerlshhess or anxiety 49,,
Government bOnls were quiet and arm, WIN the d. IS
FOR the 4es s per cent higher Annexed are The closing
quotations: